Technicolor responds to market rumours

Media and entertainment technologist Technicolor has responded to what it calls press reports and market rumours with respect to potential transactions involving the company.

In a Statement, Technicolor says it regularly reviews and evaluates strategic alternatives for its assets, whether acquisitions, combinations or divestments, in the best interest of its stakeholders. “This may involve discussions with industry players and/or financial investors. This is an ongoing process in keeping with management’s mission to deliver value for shareholders,” it states.

In this regard, Technicolor stresses that any discussions are at a preliminary stage. No strategic decision or commitment has been made.

Technicolor said it will provide no further comment on rumours.

Technicolor operates two main divisions, entertainment services and connected home. In July 2015, Technicolor acquired Cisco Systems’ set-top box business in a €550 million in cash and stock deal, which it suggested would make it one of the global leaders in CPE and immediately increase the company’s industrial and technological scale in all major geographies.